Antero Midstream Partners LP (NYSE: AM) shares rose on Wednesday Nov 30 with lower trade volume than normal after more analysts initiated coverage on the stock.
Meanwhile, the Dow Jones Industrial Average hit an intraday record after opening higher Wednesday, led by the energy sector as hopes rose that the world’s major oil producers are near a deal on limiting output.
The benchmark S&P 500 and Dow were on track to post their largest monthly gains since March.
The S&P 500 SPX, +0.22% gained 5 points, or 0.2%, to 2,209. The Dow Jones Industrial Average DJIA, +0.41% added 62 points, or 0.3%, to 19,184, trading in record territory. The Nasdaq Composite COMP, -0.08% was 7 points, or 0.1%, higher at 5,386.
Analysts at Ladenburg Thalmann initiated coverage on Antero Midstream Partners LP (NYSE: AM) stock, rating the company at Buy. The company currently has a rating of Buy on the shares. As a means of comparison, a number of other analysts have spoken on the company in recent days, and Antero Midstream Partners LP has secured a consensus one-year price target of $35.46, higher than the opening price of $28.96, a difference of 12.14 percent. Antero Midstream Partners LP stock has a 52-week high of $31.39. After initiating coverage,, analysts and brokerage firms will subsequently publish periodic updates. Changes in price targets are not uncommon.
Antero Midstream Partners LP (NYSE: AM) shares last traded at $29.22, a jump of $1.36 or 4.88% over the previous closing price. Opening at $28.96, they ranged from $28.89 and $29.65 throughout the day.
Antero Midstream Partners LP (NYSE: AM) now has a market cap of 5.18B.
Antero Midstream Partners LP (NYSE: AM) Average Daily Trading Volume
The stock’s average daily volume is 360,098 shares out of a total float 68,072,000 and some 39,575 shares crossed the trading desk yesterday, lower than the average. Momentum traders often use increases in trading volume to pinpoint heavy volume accumulation or circulation by institutional investors, so look for trading volume to pick up in the coming days.
While an increase in trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Antero Midstream Partners LP (NYSE: AM) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, Antero Midstream Partners LP (NYSE: AM) now has a 50-day MA of $28.79 and 200-day MA of $26.74. It has traded in a 52-week range between $17.00 – 31.39 and today’s last price is 6.91%% lower than the 52 week high of $31.39.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have grown their earnings at least 25% or more over a 3 year period.
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